Post
Topic
Board Economics
Re: IRS to come after people for selling Bitcoins
by
eadmanday
on 10/04/2013, 20:43:56 UTC
Guys the way you are view this is not a form of stock or a form of bitcoin for bitcoins good. Bitcoins are a barter currency. In the EYES of the IRS that is what it is... so if you made money off of the money in 2013 then when you file the taxes you will be asked to for other income and this is where you would put your barter income from bitcoins.

One way to do this is
1) start it as a small home business. This way you can write off your business cost and your internet, eletro etc..

either way if you sold a old toy for $800 that would be barter income because it was more then the original cost of the toy and thus in IRS's Eyes its taxable.